Express-1’s Income Rises for Fourth Quarter, Year

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Express-1 Expedited Solutions said Thursday it earned $1.6 million or 6 cents a share in the fourth quarter, up from $597,000 or 2 cents a year earlier.The ground expedited carrier said its fourth-quarter revenue rose $1 million to $10.7 million.For the full year it earned $3.9 million or 15 cents a share, compared with a loss of $5.8 million or 22 cents in 2005. Revenue rose to $42.2 million from $39.8 million the previous year.The earnings were in line with the company’s guidance of $39 million to $42 million, or 10 to 12 cents a share.The company said it expects its 2007 revenue to be $48 million to $52 million, up 15% to 23% over last year. Its full-year net income will be 7 to 9 cents per share, it said.Express-1 changed its name from Segmentz Inc. last June. (Click here for previous coverage.)